No, that's a street; it's just a bus lane in the middle of the street. It's still subject to the same traffic signals as the rest of Pelham Parkway (except that now buses will conflict with traffic in the same direction turning left, leading to even longer red phases). All you've done is move the bus stops to a less convenient location, make it impossible to run both limited and local service, and increase headways -- at very substantial capital cost.